Jason Dubinsky Sells 3,223 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) CFO Jason Dubinsky sold 3,223 shares of Morningstar stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the sale, the chief financial officer now owns 17,304 shares of the company’s stock, valued at approximately $6,106,235.52. The trade was a 15.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $349.69 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The stock has a market cap of $15.00 billion, a PE ratio of 46.19 and a beta of 1.19. The company’s fifty day moving average is $344.66 and its 200 day moving average is $320.25. Morningstar, Inc. has a 52 week low of $269.51 and a 52 week high of $365.00.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.01). The company had revenue of $569.40 million during the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th. Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a report on Wednesday, October 9th. Finally, UBS Group assumed coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its holdings in Morningstar by 154.0% during the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock valued at $94,727,000 after buying an additional 194,122 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Morningstar by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after acquiring an additional 102,206 shares during the period. Wasatch Advisors LP raised its stake in shares of Morningstar by 13.9% during the third quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock valued at $222,115,000 after acquiring an additional 85,098 shares during the last quarter. Boston Financial Mangement LLC purchased a new stake in shares of Morningstar during the third quarter worth about $19,666,000. Finally, FMR LLC boosted its holdings in shares of Morningstar by 10.9% during the third quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock worth $127,814,000 after purchasing an additional 39,263 shares during the period. Institutional investors own 57.02% of the company’s stock.

About Morningstar

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.